Jeff Bezos and Bill Gates back UK FinTech startup Wagestream

Wagestream, a UK FinTech startup that enables employees to get their salaries early, has just received backing from Amazon’s and Microsoft’s billionaire founders.

The company raised a total of £4.5m from investors including Bill Gates and Jeff Bezos.

Their aim is to eliminate the "payday poverty cycle" by providing an app that allows a participating company's employees to access their wages early and charges them a flat fee of only £1.75. The total amount is then deducted from the employee's next pay cheque.

Wagestream has launched a pilot with 25 businesses, including the gym chain David Lloyd.

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